Published on 12/14/2005 in the Prospect News Convertibles Daily.
New Issue: Lehman prices $2 million notes linked to S&P 500
New York, Dec. 14 - Lehman Brothers Holdings Inc. priced $2 million 0% notes in the Return Accelerated PortfolIo Debt Securities (Rapids) structure linked to the S&P 500 index, according to a 424B5 filing with the Securities and Exchange Commission.
At maturity, the notes pay par plus double any gain on the index, capped at $1,180 per $1,000, par if the index loses up to 10% and par less 1.1111 times any loss over 10%.
| Issuer: | Lehman Brothers Holdings Inc.
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| Issue: | Return Accelerated PortfolIo Debt Securities (Rapids) medium-term senior notes
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| Underlying index: | S&P 500 index
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| Amount: | $2 million
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| Greenshoe: | $0.3 million
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| Maturity: | Dec. 15, 2007
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If index return is positive, par plus double gain up to a maximum of $1,180 per $1,000; if index return is up to 10% negative, par; if index return is more than 10% negative, par minus 1.1111 times loss
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| Pricing date: | Dec. 12
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| Settlement date: | Dec. 15
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| Underwriter: | Lehman Brothers
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